Business

Apple breaks $800bn market cap as US stocks hold steady

NYSE trader Image copyright Getty Images

Apple Inc shares closed traded on Tuesday with a market capitalisation over $800bn, the first company ever to do so.

Shares in the tech giant only rose a modest 0.6%, but it was enough to break through the barrier.

Emmanuel Macron's victory in the French presidential election and strong US corporate results have calmed the markets.

The Dow Jones Industrial Average fell 36 points, or 0.17%, to 20,975.

The S&P 500 fell 2.4 points or 0.1% to 2,396, while the Nasdaq index rose 17 points or 0.29% to 6,120.

The Vix, Wall Street's "fear gauge", hit 9.56 points, the lowest since late 2006, a day after closing at its lowest level in over two decades. A falling Vix typically indicates a bullish outlook for stocks.

The 10-year US Treasury yield rose to its highest in a month, while gold prices fell, indicating a shift in investor preference for riskier assets.

Shares of Valeant Pharmaceuticals jumped more than 25% after the company posted its first profit in six quarters.

Endo International, Office Depot and Marriott also rose after reporting better-than-expected quarterly earnings.